Global Nuclear Medicine/Radiopharmaceuticals Market Size By Application (Diagnostic Applications), By Procedural Volume (Diagnostic Procedures, Therapeutic Procedures), By Type (Diagnostic Nuclear Medicine, PET Radiopharmaceuticals), By Geographic Scope And Forecast

Nuclear Medicine/Radiopharmaceuticals Market Size And Forecast

Nuclear Medicine/Radiopharmaceuticals Market size was valued at USD 6.56 Billion in 2020 and is projected to reach USD 13.53 Billion by 2028, growing at a CAGR of 9.47% from 2021 to 2028.

The demand for radiopharmaceuticals in neurological applications will drive the growth of the Nuclear Medicine/Radiopharmaceuticals Market during the forecast period. The Global Nuclear Medicine/Radiopharmaceuticals Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Nuclear Medicine/Radiopharmaceuticals Market Definition

The radioactive compounds administered to the patient and monitored via a specific imaging device for diagnostic purposes are known as radiopharmaceuticals. This drug can be used for therapeutic or diagnostic purposes. The radiopharmaceuticals are mainly composed of a radioisotope bond to an organic molecule. Over the last 50 years, nuclear medicine has developed significantly owing to increasing investments in the field of chemistry and the development of radionuclides and radiolabeled compounds.

Global Nuclear Medicine/Radiopharmaceuticals Market Overview

The growth of the global Nuclear Medicine/Radiopharmaceuticals Market is being driven by increasing incidences and prevalence of target conditions. The demand for alpha radioimmunotherapy-based targeted cancer treatment is increasing and owing to which the global Nuclear Medicine/Radiopharmaceuticals Market is flourishing at a rapid pace.

However, some restraints are liming the growth of the global Nuclear Medicine/Radiopharmaceuticals Market. The short life span of radiopharmaceuticals may create setbacks for the growth of the global Nuclear Medicine/Radiopharmaceuticals Market. Also, the high equipment prices may hamper the growth of the global Nuclear Medicine/Radiopharmaceuticals Market.

Global Nuclear Medicine/Radiopharmaceuticals MarketSegmentation Analysis

The Global Nuclear Medicine/Radiopharmaceuticals Market is Segmented on the basis of Application, Procedural Volume, Type, and Geography.

Nuclear Medicine/Radiopharmaceuticals Market, By Application

1.1 Diagnostic Applications1.1.1 SPECT Applications1.1.1.1 Cardiology1.1.1.2 Neurology1.1.1.3 Thyroid1.2 Other SPECT Applications1.2.1 PET Applications1.2.1.1 Oncology1.2.1.2 Cardiology1.2.1.3 Neurology1.2.1.4 Other PET Applications1.2.2 Therapeutic Applications1.2.3 Thyroid1.2.4 Bone Metastasis1.2.5 Lymphoma1.2.6 Endocrine Tumors1.2.7 Other Therapeutic Applications

Based on Application, the market is segmented into Diagnostic Applications and Other SPECT Applications. The diagnostic applications dominated the global Nuclear Medicine/Radiopharmaceuticals Market. The SPECT applications especially contributed majorly to the growth of the market.

Nuclear Medicine/Radiopharmaceuticals Market, By Procedural Volume

2.1 Diagnostic Procedures2.1.1 SPECT Radiopharmaceuticals2.1.2 PET Radiopharmaceuticals2.2 Therapeutic Procedures2.2.1 Beta Emitters2.2.2 Alpha Emitters2.2.3 Brachytherapy Isotopes

Based on Procedural Volume, the market is segmented into Diagnostic Procedures and Therapeutic Procedures. The Diagnostic Procedures are further bifurcated into SPECT Radiopharmaceuticals, PET Radiopharmaceuticals, and Therapeutic Procedures. The Therapeutic Procedures are further bifurcated into Beta Emitters, Alpha Emitters, and Brachytherapy Isotopes. The Diagnostic Procedures dominated the global Nuclear Medicine/Radiopharmaceuticals Market.

Nuclear Medicine/Radiopharmaceuticals Market, By Type

3.1 Diagnostic Nuclear Medicine3.1.1 SPECT Radiopharmaceuticals3.1.1.1 Tc-99m3.1.1.2 Tl-2013.1.1.3 Ga-673.1.1.4 I-1233.1.1.5 Other SPECT Isotopes3.3 PET Radiopharmaceuticals3.2.1 F-183.2.2 Rubidium-823.2.3 Other PET Isotopes3.3 Therapeutic Nuclear Medicine/Radiopharmaceuticals3.3.1 Beta Emitters3.3.1.1 Iodine-1313.3.1.2 Y-903.3.1.3 Sm-1533.3.1.4 Re-1863.3.1.5 Lu-1773.3.1.6 Other Beta Emitters3.3.2 Alpha Emitters3.3.2.1 Ra-2233.3.3 Brachytherapy Isotopes3.3.3.1 Iodine-1253.3.3.2 Iridium-1923.3.3.3 Palladium-1033.3.3.4 Cesium-1313.3.3.5 Other Brachytherapy Isotopes

Based on Type, the market is segmented into Diagnostic Nuclear Medicine, PET Radiopharmaceuticals, and Therapeutic Nuclear Medicine/Radiopharmaceuticals. The Therapeutic Nuclear Medicine/ Radiopharmaceuticals is further bifurcated into Beta Emitters, Alpha Emitters, and Brachytherapy Isotopes. The alpha emitters segment dominated the market.

Nuclear Medicine/Radiopharmaceuticals Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

Based on regional analysis, the Global Nuclear Medicine/Radiopharmaceuticals Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The largest share in the market will be dominated by North America. The dominance of the North American region can be attributed to the development of novel technologies for radioscopic production and an increase in government funding.

Key Players

The “Global Nuclear Medicine/Radiopharmaceuticals Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Cardinal Health, Inc., Mallinckrodt PLC, GE Healthcare (A Fully-Owned Subsidiary of General Electric Company), Lantheus Medical Imaging, Inc., Bayer AG, Bracco Imaging S.P.A, Eczacibasi-Monrol Nuclear Products, Nordion, Inc. (A Subsidiary of Sterigenics International LLC.), Advanced Accelerator Applications S.A., Iba Molecular.

These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

Key Developments

Partnerships, Collaborations and Agreements

• A manufacturing and distribution deal was signed in 2019 between Eczacba-Monrol and Telix Pharmaceuticals Limited (Australia). Telix has engaged Eczacba-Monrol as a radiopharmaceutical production partner and distributor throughout Turkey, the Middle East, and North Africa, according to the conditions of the agreement.

Mergers and Acquisitions

• In the year 2019, Curium acquired MAP Medical, allowing it to expand its footprint in Europe and gain direct access to the Nordic and Baltic countries.

Product Launches and Product Expansions

• Curium (France) and NRG (Netherlands) inked a Molybdenum-99 manufacturing agreement in 2019.

• Cobalt-60 was purchased from the Board of Radiation and Isotope Technology (BRIT) in April 2019 for distribution throughout Europe by Nordion, Inc.

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Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support

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